Transforming and keeping the business in the family

THE public accounting scene in Singapore - like anywhere else in the world - is dominated by the Big Four firms. In addition to commanding top dollar for their services, they also dominate the top tier of public accounting services provided, - including international tax consulting, risk management and M&A advisory.

The small firms here - typically run by one or two partners - usually do the jobs that are too small for the Big Four. They focus on basic accounting, audit and tax compliance services for smaller clients who cannot afford the top rates of the Big Four.

But one small practice here has turned out to be quite the maverick in this landscape.

The Iyer Practice has cast off statutory audit services - the bread-and-butter of small accounting firms - to take up the top tier of accounting services, international tax, trusts and regulatory consulting. And, it has don…